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Lone Star Industries offers online automobile Insurance to preferred risk drivers in the state of Texas. The company is the low cost provider of insurance in the market with fixed costs of $18 million per year, plus variable costs of $750 for each driver insured on an annual basis. Price and marginal revenue functions for the company are as follows P = $1,500 - $.005Q MR = $1,500 - $.01Q 1. Calculate the company’s MC function, 2. Calculate the profit maximizing activity level 3. Calculate the company’s optimal profit and return on sales.
Using a market or industry as an example, explain how the Prisoners' Dilemma game helps explain observed (real-world) behavior among oligopolistic firms.
A rather wealthy man decides to arrange for his descendants to be well educated. He wants each child to have $60,000 for his or her education. He plans to setup a perpetual trust fund so that six children will receive this assistance in each generati..
Pick a good or service and illustrate its market with supply and demand curves. Explain what each curve represents and tell what (specifically) would shift each of the curves. A properly-labeled diagram of the supply and demand curves.
Write a thorough analysis of unemployment, defining the various types of unemployment, full employment, and the natural rate of unemployment. Describe the impact of unemployment on the economy and your solutions to lower unemployment. Remember to cit..
what is the new wage and employment level; are employees better or worse off as a result of the health insurance benefits?
Tata Motors is a major player in automobile manufacturing in India. It has three different manufacturing units that specialize in manufacturing different transportation-related products, such as trucks, engines and axles, commercial vehicles, utility..
The US economy is currently operating below Potential GDP. Without using someone else's estimate of Potential GDP, how would you approach calculating how much current activity is below Potential GDP? Where would you get the data for your calculation?..
How do the instruments of contraction monetary policy work in principle.
Graph all three curves. What is the relationship between the marginal-cost curve and the average total cost curve
The following is intended to explore what kinds of cross-price demand relationships are logically possible in a two-good model with exogenous income.
How do you use indifference curve analysis to explain the price ; income and substitution effects and to demonstrate the delegation of the demand curve for different types of goods
Is there evidence that a party dealignment is occurring in the United States? What is the organizational structure of political parties? What are some of the functions of parties in the electoral arena? How do both the electoral system and federalism..
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